Analysis of Innovation Strategies and Commercialization for 4com PLC

This report delves into the multifaceted concept of innovation, focusing on its significance for businesses, specifically examining the case of 4com PLC, a telecom service provider in the UK. The report covers essential aspects like the distinction between innovation and invention, highlighting the importance of innovation in attracting customers, driving productivity, and fostering communication. It analyzes how organizational vision, culture, leadership, and teamwork shape commercialization and innovation. The report explores the 4Ps of innovation (product, process, position, and paradigm) and the application of the innovation funnel. It also examines frugal innovation, the significance of the commercial funnel, and the use of New Product Development (NPD). Additionally, the report touches upon the creation of an innovation business case and the tools organizations can employ to retain, develop, and protect intellectual property and knowledge. The report uses the examples of Apple and Virgin to highlight the importance of innovation in business.

INNOVATION

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Innovation and identify its importance to firm in comparison with an invention.............1
P2 Organisational vision, culture, leadership and teamwork can shape commercialisation and
innovation...............................................................................................................................3
TASK 2............................................................................................................................................4
P3 4Ps of innovation and use of the innovation funnel..........................................................4
P4 Developments in frugal innovation and how it is used in organisational context.............6
TASK 3............................................................................................................................................7
P5 Importance of commercial funnel and application of New Product Development (NPD)7
P6 Innovation Business Case for an organisation..................................................................8
TASK 4..........................................................................................................................................10
P7 Various tools that organisations can use to retain, develop and protect intellectual property
and knowledge......................................................................................................................10
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................12
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INTRODUCTION
Innovation means to introduce a new idea, ways, products etc. It is a process of
generating new thought and also finds new methods to do or complete the task. An idea can be
related to products, technology, services etc. 4 com plc is a small-scale organization and it
provides telecom services to people. The main objective of this business firm is to improve the
communication services in market of United Kingdom (Lundvall, 2010). In this report,
mentioned about an invention and innovation and its importance. The leadership, teamwork,
culture and vision can shape the commercialisation and creativity. The innovation is of different
types and there are also 4p's of innovation. In this present report it is mentioned that 4 com plc
can develop the frugal innovation. There are some significance of Commercial funnel and also
processing the application of NPD for commercialisation.
TASK 1
P1 Innovation and identify its importance to firm in comparison with an invention
Innovation means to apply the idea in to action. It can be defined as a change that added
some value to services and materials that helps in fulfilling the needs and wants of customers.
The innovation can be created by introducing new technology, products and materials, process
etc. and also do the changes according to the demand of customers that can satisfy their needs. 4
com plc changes the functions of their mobile phones according to tastes and preferences of
people. It provides new and attractive service to its customers. Invention means to discovering,
creating new things, methods that has not sustain previously (Drucker, 2014). In this, searching
new things with the help of research. It can be patented and also gives security and safety to
inventor for his intellectual property rights. There are some differences among innovation and
invention:
 Invention refers to generate new ideas in to actions or reality and innovation
means to find new things by doing research and which does not exist in present
time.
 The innovation is affiliated to make change in existing products and services and
invention is accompanying to discovering or creating new services and goods.
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 In innovation, there can be many skills used like technical, interpersonal,
marketing etc. and in inventions there is a need of only one type of skill and that
is scientific.
 Under innovation, there is a focus on the different combination of goods and
services and the invention is related to only single type of process and products.
Creativity helps in making the business successful. If small business units use design
then, it can helps in grow its business. There is some importance of innovation:
To attract customers- For introducing the new products and services and also through
modification in it according to the needs and wants of people. It will help in attracting the buyers
towards their goods. This will happen with the help of innovation.
Productivity and growth- Innovation helps in increasing the growth of business
enterprise. If 4 com business firm makes services and goods which can satisfy the demands of its
customers (Teece, 2010). Then from this, the sales of company will be enhanced and it will also
asses in enhancing growth and productivity of business.
Rising communication- It is helpful in enhancing interaction among two departments or
two people. In this, every employees give their contribution and regarding this, they all are
interact with each other. So, from this the communication gap among department, employees,
employers will be reduced.
In context to 4 com plc., it provided various effective services to its consumers in order to
satisfying their needs. This firm provides effective services in its mobile phones so that every
one can connected with each other with the helps of applying various and better softwares.
An innovation is better for the staff members of an organisation in order to increasing
their productivity. If they will innovate some thing new then it will be beneficial for them and it
will helps in maximising an effectiveness and also efficiency of communication process. If at the
work place employees will work together then they can give their good contribution in context
to innovate some thing new and also creative.
Virgin and Apple Inc. company both provides better quality services to their customers.
These both company innovate new ideas to make their services better and which can help in
attract the customers and also helps in satisfy their demands. Apple company makes some
innovation in its technology like in their mobiles phones this firm built new software which
attracts the people.
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P2 Organisational vision, culture, leadership and teamwork can shape commercialisation and
innovation
In a business firm, leadership, teamwork is very essential. It helps in making the business
successful (Edquist, 2010). The culture plays necessary role in business. It consists values,
norms, beliefs of society, person or an organisation. In a company, there are many people work
of different culture. The teamwork, leadership, vision can give shape to commercialisation and
innovation.
Vision- It means the ability to think and make plan related to future prospectus.
Organisation set a vision that what to do in future, what their future plans and strategies. In case
study of Apple and Virgin, their vision is to provide good services and products to its customers.
Their vision is to render all facilities in one system through which the communication system
among two people can be good. Innovation helps in making the services better. The vision of 4
com plc is very clear to its staff members and they all work according to the set vision which is
formulated through to management of this organisation.
Team work- It is very necessary in an organisation. In 4 com plc company, people think
new ways to serve better quality services to their consumers and also to attract the new buyers.
Managers support their employees and guide them properly. All employees work in a group by
using their skills, knowledge and abilities. If workers will work together, then it will help in
making and generating new things and ideas. In vision and Apple company,people work in a
team and team leaders give their full support to them to increase the performance level of their
employees and making the working environment better. It will help in making business
successful and also helps in achieving the target of business firm (Dahlander and Gann, 2010).
Teamwork can give the shape of commercialisation and innovation.
For an example- In 4 com plc. Leader motivate its team members to work together. In
this firm leader uses a democratic style to deals with employees in a proper manner.
Culture- The culture of every business organisation is different from each other. It means
norms, beliefs, values, rules and regulations which are made by society people. In an
organisation, there are also many employees work which are from different culture, their
thinking is different from each other. To innovate new things, it is necessary to adopt the
organisational culture. In the culture of business enterprise includes-
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 In what manner, company conducts its business and behave with its employees
and also with its customers.
 Give freedom to its employees in any decision-making process, so that they can
introduce new ideas and to make innovate things.
 The way in which information and power transfer by its hierarchy.
The culture can impact on productivity and growth of business. If organisation will not
provide better working conditions and facilities to its employees, then they will not work
properly and will not give their contribution to achieving the objectives of an organisation. So, it
is necessary to make good organisational culture.
For an example- The culture of 4 com plc company is good and it attracts the people
towards it self. The employees of this firm work freely and this type of culture motivates the
employees to do work in a better way.
Leadership- It can help in rendering the shape to innovation and commercialisation.
Leadership plays important role in a business firm (Gassmann, Enkel and Chesbrough, 2010).
Leaders should support, leads and guide to its employees. They help in find new ways and
encourage employees to search new and innovate ideas to make things and services better.
Leaders give full guidance to their team members and also helps in make good communication
among team members.
For an example- The leaders of 4 com plc is very supportive. They give ideas and also
opinions from their staff members. The leader of this firm always motivate them for increasing
their level of performance.
TASK 2
P3 4Ps of innovation and use of the innovation funnel
There are four types of innovation and that are product, position, process and paradigm.
Product innovation- It helps in developing new products and services and also in make
changes in goods and services. In it, employees do innovate things in making products more
attractive. From innovation, an organisation can provide better and attractive services to its
customers.
Process innovation- It helps in making the process better. Innovation can also help in
making the manufacturing and delivery process of products and services better. From improving
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in process, it will help in increasing the effectiveness and efficiency of business process. If
organisation, will make changes in its process, and make good quality products, then it will help
in maximize the sales and also helps in increasing the productivity and growth of business.
Position Innovation- It is a third focus of innovation (Huizingh, 2010). In this company,
people think about best position for introducing services and products. It refers to modification
in how particular process and goods are to be perceived.
Paradigm Innovation- It defines the shape and structure of business. If the shape of
business will be good, then it will also help in making or generating the new ideas.
The innovation used by the 4 com plc in order to develop its products more attractive.
This process is helpful in making production process better. Under this, 4 com plc uses new and
latest technology.
For an example- Apple company use these kinds of innovation for making its products
attractive. In making their products better than other, this firm uses the advanced technology. By
suing this, Apple company can make focus on its products.
Funnel innovation is basically used to explain the steps that helps in introducing the
goods, process and services. The main aim of innovation is to develop those products which can
meet with the market expectations. The funnel evolution gives a graphic framework for thinking
about generating the secondary development options. In this, there are three types of challenges
are involved:
Wide mouth of funnel- In this first type of innovation, it helps in enhancing the
knowledge base of a business firm . Its main motive is to gather many ideas and then choose a
better and suitable idea which can helps in develop process or products (Crossan and Apaydin,
2010). Company can collect data and information from research, institutes, existing partners etc.
Narrowing segment of funnel- Organisation introducing thought with the help of
screening. It refers to meet the ideas with its company's objectives. After its process, business
and management need to assess the risk and returns and also need to check its goods and services
along with its buyers.
Narrow segment of funnel- In this last stage, organisation confirms about the idea which
is selected to deliver on the goals of a business enterprise which are expected at the time of
business started.
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4 com plc uses the frugal innovation in order the make its business successful and remove
all issues with are arise in the production process. This business firm determine its wants and
demands and then provide good on the basis of consumers needs.
A Frugal innovation is necessary and helpful for business because it assess in determine
the present trends and also needs of market by proving the new and attractive products. It is
helpful in finding the better way or solution related to any issues which are emerging in market
place.
Eg- The Apple company uses the Frugal innovation advanced and also beautiful form.
This company develop its value by minimising the bells and also whistles from bring the
wireless keyboard and mouse and it attracts the many people. But on the other hand Virgin
Group says about the concept of innovation that it is very creative part which states that how to
do something better in less.
P4 Developments in frugal innovation and how it is used in organisational context
Frugal innovation helps in discovering business models and to modify services and goods
to provide better services to its customers faces many difficulties and constraints. Its main focus
is on minimizing the wastage or damages or any type of difficulty in products (Huberman and
Miles, 2013). Like for instance I phone is a famous brand and developed by Apple Inc. company,
in this case Frugal innovation can be called as Frugal engineering and with the help of this Apple
company always try to make its products better and also try to render better function in these
mobile phones. The company has to provide good quality service at minimum price, so that
every person can use it.
In coming time, new and advanced technology helps in making production process better
and also assist in increasing the national income (Hall and Lerner, 2010). From this customer
will purchase expensive good quality products at higher price and it will also help in enhancing
the standard of living of people. Frugal innovation uses many strategies to maintain its area by
modification in different goods to give better services to those people who are facing constraints
affordability. There are some developments of Frugal innovation:
Minimising manufacturing cost- From this technique, 4 com plc company works on
reducing its production cost and focus on making the reasonable price of goods. This
organisation purchases raw material from its suppliers at minimum price and it will help in
render the products and services at minimum price to its customers.
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Additional features in existing goods- With the help of this technique or strategies,
company can improve in its process aif ic, f ocusing on 1 example onlynd in its services. It will
help in making services effective by adding some additional features and specifications in it.
Emeif ic, f ocusing on 1 example onlyrgence of advanced devices- On the basis of this,
business produces services and products by using advanced technology (Patti, Yanes and
Siuzdak, 2012). Technology helps in producing good quality of products or services at minimum
cost.
For an example- In this frugal innovation used by the 4 com organisation in context to
increasing sustainability of business at market place. This innovation is used by 4 com plc for
reducing the errors as well as wastage in the production process as well as products. It is very
essential for managers of 4com plc to think flexibly as this help in execute the innovation in an
effective manner. Further, innovation plan should be simple so firm can serve more number of
customers.
TASK 3
P5 Importance of commercial funnel and application of New Product Development (NPD)
The commercial funnel refers to the buying process that organisations lead buyers at the
time of purchasing goods. It is a map that shows the present sales prospects. It helps in changing
or can say modification in existing goods to attract the buyers. There is some importance of 4
com plc business enterprise:
Improve quality- Commercial funnel helps in improving or increasing the quality
standard of products and services.
Helps in innovation- It helps in innovating new ideas and related to products, services,
process and technology.
Maintain goodwill- If an organisation will provide good quality services and also supply
goods on time to buyers, from this the image of this company will be good in front of customers.
Research programmes- It helps in collecting data information and data through primary
and secondary sources. Before develop any products, research is very important in making goods
different from other competitors (Lee and et.al., 2012).
Minimizing loss- Commercial funnel assist in managing the cost of production process
and it also helps in reducing its extra cost rate.
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Productivity and growth- If company manufacture services according to customers
need and wants, then it helps in enhancing the growth or productivity of business.
New Product Development helps in developing new products in market place. 4 com plc
business firm, use New Product Development process in introducing goods and services. There
are some stages in its products:
Idea generation- It is a first stage and in this stage, company has to make idea about
product like for instance, what type of goods are to product and what techniques are to be used.
In this step includes market research, distributors, competitors and suppliers.
Idea screening- In this, choose one best of the best idea from all. The selected idea
should be flexible, usable and helps in minimize the wastage of optimum resources.
Conduct testing and development- After screening idea, it is necessary to develop
materials. In this, the idea of goods and services can be developed in to workable form (Melville,
2010). Product test is to be conducted inside field and laboratory conditions to test effectively
and also safely.
Test marketing- In this step, the the marketing of product programme is to be developed
in realistic market. In introducing product, business organisation uses marketing mix before
launching the product. Before going in market, company use 7p's of marketing mix and that are
product, price, place, promotion, process, people and physical evidence. After launching, if
goods are fail in market place then the sales or marketing person find the reason of failure by
taking feedback from people. Then company make changes ion services and goods according to
customers and then again introduce on market place.
Commercialisation- After successful test marketing, this business enterprise introduces
services and goods at large scale like for instance in sates (Hjalager, 2010). Cities and also in
different countries. Firm invest large amount of money on new product development. It provides
goods on large scale and give promotion with the help of television, radio, newspapers, banners,
holders, magazines, through social media etc.
Take review of market performance- 4 com plc should be take review regarding the
performance of market of new goods. Company should be evaluate the performance and make
time to time changes in market plans, policies and strategies that help in make business
successful.
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P6 Innovation Business Case for an organisation
4 com plc was established to increase its small-scale business or market to give benefit
for introducing new products or services. Sometimes, company faces many problems and issues
at the time of putting optimum resources in to advancement procedure. In innovation business
case, there are some steps which need to incorporates:
Executive summary- 4 com plc is a private limited company. It operates its business on
small scale to provides different sorts of administrations like web office, mobile network
operations as well as voice calling.
Need- The main of this business firm is to provide better quality services and products by
adopting new and advanced technology (Brown and Wyatt, 2010). By adopting technology, it
will provide better quality communication services to its customers.
Solution- The solution is that it provides 3G and 4G services in its mobile phones and
upgrade itself according to customers need and want.
Why its goods and services are innovated- It gives products with upgrade software in its
systems. From innovation, they provide upgrade system in its phones and it will help in increase
the sales and also increase the growth of business.
Buyers research- In this, there is a need of searching the customers in different market
and who are the loyal customers of its products.
Design and development planning- After the market research of customers, then there
is a need of design program on the basis of customers need. The plan is about what type of
products should be introduces and what should be the quality of products?
Investment requirement- After making plan, there is a requirement of fund. It is
necessary for business process. The speculators and bondholders of an organisation provides
funds to business. They provide financial help to company on the basis of their past experiences.
Expected advantages- Innovation business case is as method of 4 com plc which
demonstrates competence of an organisation in introducing the new products. It uses various
methods to increase the efficiency and effectiveness of condition of business (Leiponen and
Helfat, 2010). This business firm use various tools and techniques to determine business case is
profitable or not, like for example:
Idea screening- In this, business enterprise has to determine the idea which is used by it.
It screens idea and then, see the authenticity, effectiveness and reliability of idea.
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Testing- In this, there is a need to testing of products inside laboratory. It will help in
knowing the effectiveness of product.
Strategies development- This business case requires the execution of plans to make
improvement in its goods.
There are some steps are included in innovation business case:
Understand objectives- Under this, information should be in detail regarding main aims
and also objectives which company wants to accomplish in future by developing effective plan.
It is helpful in designing the particular strategies and also plans sin take some effective decision
to accomplish decided goals.
Collect information- Under this, it is necessary to gather all the resources which are
essential at the time of executing project. Employer should be design and also explain a business
model for implementing business related operations.
Analysis- After gathering all relevant resources it is essential that it is necessary that
manager should evaluate them in order to search some alternative methods of finishing projects.
Tell story- In this last stage, it is essential to present its data collection to the decision
maker for get some review. Under this the person who presents information faces many issues.
At the time of presenting, it is necessary to presentor to use the effective and also understandable
language so that the decision makers can understand and also takes some effective decisions.
TASK 4
P7 Various tools that organisations can use to retain, develop and protect intellectual property
and knowledge
This business organisation uses many methods to retain its intellectual property and it is
a big asset. To secure intellectual property of company, it uses copyright, trademark, and patent.
Copyright- It is a legal device that provides the creator of creative work, literacy etc. and
gives right to sell goods and products (Adner and Kapoor, 2010). The owners of copyright have
right to control its property. It is under the law and provides legal rights of using its services and
products. No one can use services of 4 com plc.
Patent- It gives right to manufacture, use and sell products for certain years. It is a legal
document which is granted by government. It is also used for making the improvements in
existing invented products.
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Trademark- It means to register the name, logo, word, figure of an organisation (Davila,
Epstein and Shelton, 2012). It helps in distinguish 4 com plc from other telecom companies.
For an example- Apple company uses the copy rights, trademark in context to safe its
assets. This company has a legal license, no body can use the logos, tag line of this Apple
company.
CONCLUSION
It has been concluded from the above report that innovation is very necessary in making
the business successful. With the help of innovation, 4 com organisation can introduce new
products and services and also can modify them. It will help in attracting customers and also help
in increasing the sales and productivity of company. In this present report studied about 4p's of
innovation such as product, process, position and paradigm. Company can use various methods
or tools to retain, develop and protect intellectual property and knowledge. In this report
mentioned case studies related to Apple Inc. and Virgin group. Both companies provide better
quality services and use innovative ideas to develop their business.
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REFERENCES
Books & Journals
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